Wrongful Foreclosure

August 1st, 2011 | Author: | Law

For any business or homeowner, foreclosure is a frightening prospect. Unfortunately, in difficult financial times, it may not be possible to make appropriate payments on your home or business property. In this case, the lending institution from which you borrowed to pay for your property may initiate foreclosure proceedings. However, many people aren’t aware that there is a detailed foreclosure process that must be strictly adhered to in order for the foreclosure to be legitimate.

Wrongful foreclosure occurs when a lending institution illegally forecloses on the property of a home or business, either by failing to meet the requirements of the foreclosure process or by employing deceptive practices intended to facilitate foreclosure. In either case, an experienced legal professional may be able to assist the owner of the property in question by halting the foreclosure process.

Causes of Wrongful Foreclosure

A wrongful foreclosure can occur in a number of different circumstances, either as a result of negligence or willful deception. The following are some of the most common causes of wrongful foreclosures:

  • Neglecting to send a notice of default before beginning foreclosure proceedings
  • Failure to send the notice of acceleration in a timely manner
  • Beginning foreclosure proceedings even if the debtor isn’t in default
  • Accepting payments from the debtor but continuing with foreclosure proceedings

This list represents only a partial summary of the several ways that a lending institution can wrongfully foreclose on a home or business property.

Contact Us

If you or someone you know has been wrongfully foreclosed on, you may require the assistance of a knowledgeable business attorney to ensure that your case is properly handled. Contact the Dallas business lawyers of Smith Kendall, PLLC, today at 214-361-6124 to discuss your case with a qualified member of our legal team.



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